End of week US stock market outlook – S&P 500, Nasdaq and Dow Jones charts

[Redator]

US Equities keep up their positive performance with each of them finishing at or close to their highs, with the Tech-heavy Nasdaq taking the lead yet again.

With the most recent Federal Reserve cut and positive acquisition news as seen in yesterday's US Index piece, sentiment is at its highs again.

Both the Dow Jones and S&P 500 have yet to break their yesterday highs and it will be interesting to see if they manage to do so towards the daily close or next week.

In addition to the PBoC (China's Central Bank) which releases its own rate decision (major support to the economy is expected, traditionally positive for equities), Markets will assist to many FED Members' speeches as the Blackout period is now over, and it will be very interesting to see what they have to offer.

Miran is officially the most dovish member with FED Governors Waller and Bowman conceding their seat – Have a look at the busy Sunday to Monday speaker calendar
(Check out more on what's to come with our Week Ahead piece, coming up very soon).

Central bank speakers on Monday, Marketpulse Economic Calendar.

Markets might be overlooking the more balanced-approach from Powell to the future rate cut outlook, as every-optimistic mood keeps pushing equities higher.

The Dot Plot did signal some extra 50 bps of easing throughout the end of the year, but the cut wasn't such a dovish one when looking at the details of what Powell said – For now, the US Dollar is the one coming back higher from the decision.

You can discover more on this right here.

Daily US Equity Heatmap – September 19, 2025 – Source: TradingView

The picture is not as impressive as yesterday, but Bulls will always enjoy strong performance from names such as Apple, Oracle and Tesla.

A Daily outlook for S&P 500, Nasdaq and Dow Jones before taking a closer look

Daily Chart Outlook for US Equities – September 19, 2025 – Source: TradingView

Read More:

• GBP outlook as GBP/USD gets rejected from pre-FOMC highs
• Post-FOMC US dollar surge shifts global markets – DXY outlook
• Gold (XAU) and Silver (XAG) find selling pressure from the post-FOMC stronger US dollar

Let's take a look at intraday charts and levels for the S&P 500, Nasdaq and Dow Jones.

Technical outlook and levels for the 3 Main US Indices

All three indices are in a seemingly unstoppable move since the beginning of September. Let's try to look at the extent of the moves and potential levels of interest for each index as price discovery continues.

S&P 500 4H chart and levels

S&P 500 2H Chart , September 19, 2025 – Source: TradingView

Watch the middle of the upward channel that will need to be broken to the upside to maintain a more bullish intermediate outlook!

Similar as the Dow Jones, the price action looks a bit hesitant at the highs despite a very decent week.

S&P 500 Trading Levels:

Resistance Levels

• Daily highs 6,669 (new ATH)
• Higher timeframe potential resistance between 6,650 and 6,700 level (1.618 from April lows, currently testing)
• 6,700 psychological level

Support Levels

• FOMC lows 6,562 and MA 50
• 6,490 to 6,512 pivot
• 6,400 Main Support
• 6,210 to 6,235 Main Support (August NFP Lows)

Nasdaq 2H chart and levels

Nasdaq 2H Chart , September 19, 2025 – Source: TradingView

The Nasdaq is actually the only index printing fresh all-time highs today, however the action seems a bit hesitant.

A momentum divergence might be showing up on the 2H RSI but looking at the past close, confirmation candles would be required to confirm any action.

For now, the mood in tech is positive – Let's see what players do towards the weekly close and next week's open.

Nasdaq technical levels of interest

Resistance Levels

• Current daily highs (24,626)
• Daily Resistance (from August 20 lows) 24,550 to 24,626 (immediate resistance)
• Potential Resistance 2 fib-Extension (from August lows) 24,800

Support Levels

• Fib-projection now Momentum pivot 24,350
• Previous ATH zone turning pivot (23,950 to 24,020)
• 23,500 support
• 23,000 Key Support
• Early 2025 ATH at 22,000 to 22,229 Support

Dow Jones 4H chart and levels

Dow Jones 2H Chart , September 19, 2025 – Source: TradingView

Price action is still very hesitant to break the upward trendline of the Ascending wedge, and stays one of the biggest limitation to the US index.

Watch momentum as the session moves forward.

Levels for Dow Jones trading:

Resistance Levels

• Current All-time high and Rising wedge breakout: 46,425
• 1.618 from April correction potential resistance 46,400 to 46,830
• High of channel and 1.618% Fib of July move 47,000 to 47,160 (potential resistance)

Support Levels

• 46,000 Momentum Pivot and 50-period MA (45,807)
• 45,283 previous significant ATH
• Key Support/longer-run pivot 45,000
• Support 44,200 to 44,500
• Main Support (NFP Lows) 43,000 to 43,750

Safe Trades!

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